Today,
I veto Senate Bill 41 from the 100th General Assembly, which allows
municipalities to assign, sell, or transfer their interest in funds received
from the State.

Illinois
is suffering from one of the most mismanaged and overburdened public finance
systems; ranking second worst in the United States by independent outlets. This
bill would create a moral hazard that encourages additional borrowing at the
local level, while prioritizing bonded debt at municipalities over the
provision of services.

Therefore,
pursuant to Section 9(b) of Article IV of the Illinois Constitution of 1970, I
hereby return Senate Bill 41, entitled “AN ACT concerning finance,” with the
foregoing objections, vetoed in its entirety.